The 2015 Millennial Impact Report is out. It is well worth the time to read it. There are some important implications for nonprofits. For example, millennials now represent the majority of the workforce. 84% of the 1,584 millennial workers surveyed made a charitable contribution last year. The Next Generation in American Giving video also provides promising statistics about the giving preferences of younger generations. In fact, Millennials make up 11% of total giving, but are projected to have an even larger impact in the coming years.
The Statistics and some implications:
- Generation Y gives 62% through their mobile phones. Implication: Mobile first for giving should be a priority.
- Generation Y gives 47% through a nonprofit’s website. Implication: Make it easy to give on your website.
- 55% of Generation Y members follow charities and other nonprofits on social media. Implication: Engage consistently via social media.
- 29% say that social media is an extremely important way to stay in touch and engage with causes they care about. Implication: Make it a great community experience with plenty of opportunities to volunteer.
- Individuals ages 18 to 36 spend about 18 hours a day with different types of media, and they spend 2 hours a day just browsing social media. Implication: Create an omni-channel strategy.
So, if you aren’t already engaging with this group through social and other online channels, hopefully these numbers are an eye-opener. It’s past time for you to start considering ways to integrate a social presence into your communication and fundraising strategy as soon as possible. While a Facebook presence is important, utilizing Twitter, Instagram, and Pinterest are also big ways to engage with younger generations who spend more time on social media than any other.
Michael Wilson is a Partner and Global Practice Leader for Fortium Partners. Fortium has over 40 partners. FORTIUM is dedicated to understanding and applying all things digital. A technology leadership services firm focused on providing world-class resources to clients with the most complex issues. FORTIUM serves nonprofit, public and private companies across a variety of industries, placing expert project teams and operational leadership resources in technology-related roles. FORTIUM resources usually have 25 or more years of experience, most recently in a senior leadership role.
I’m interested in a briefing on Millennials from Fortium Partners